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The move coming after the recent selling of millions of ETH by the Ethereum Foundation and co-founder Vitalik Buterin has raised speculation of whether ETH price to witness a massive fall in the coming weeks. advertisement Ethereum Creator Jeffrey Wilcke Sell 22K ETH According to Etherscan data, Ethereum co-founder Jeffrey Wilcke transferred 22,000 ETH worth $41.13 million to Kraken on June 5 at 11:28 UTC. The last time Jeffrey Wilcke sold massive ETH was on January 5 and 6, 2021. He sold 15,000 ETH to Kraken. Ethereum co-founder Jeffrey Wilcke still holds 150038 ETH worth $280.32 million. In May, Ethereum creator Vitalik Buterin dumped 200 ETH, Ethereum Foundation followed suit and dumped 15,000 ETH to Kraken. The ETH selloffs by Jeffrey Wilcke, Vitalik Buterin, and Ethereum Foundation have raised FUD in the crypto community. Recommended Articles Crypto Presale Pro...

Ethereum Price Prediction: In the weekly time frame chart, the Ethereum price shows a clear failure of coin buyers to sustain above the $2000 mark. The technical chart displaying a bearish piercing candle pattern at a $2000 breakdown indicates a higher possibility for price reversal. This potential correction may offer a pullback opportunity if the ETH price manages to replenish bullish momentum at reclaimed levels. advertisement Key Points:  With sustained selling the Ethereum price is poised for a 10% downfall to hit the $1700 mark The $1700 accompanied by several other technical levels created a strong accumulation zone. The intraday trading volume in Ether is $6.7 Billion, indicating a 30% loss. Source- Tradingview Amid the increasing selling pressure in the market, Ethereum price formed a local top at $2125 and reverted lower to start a new correction phase. In the last five days, the ETH’s market value dropped 12% and it c...